Coventry Select Board votes to move investments before election
copyright the Chronicle November 9, 2016
by Elizabeth Trail
The select board here voted Monday night to follow the recommendation of Louise Evans at Hunt Financial Services and move the town’s money into safer investments on Tuesday morning.
Tuesday is Election Day, and that played a part in Ms. Evans’ recommendation. The other part, she said, was her sense that the board isn’t sure which it values most: safety or a higher rate of return.
“Park it on the sidelines,” Ms. Evans said. “Be clear about what you want, and let the market settle.”
This year’s election, and the political drama surrounding it, is creating uncertainty in the market, she said, noting that the stock market dropped eight days in a row leading up to last Friday, something that hasn’t happened since the 1980s.
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